Goldwind is on track to launch a prototype of its first 6MW offshore turbine in the next three months.
In its annual report the company said it has completed testing key components in 2011. It will become the second Chinese manufacturer to launch a 6MW offshore turbine after Sinovel.
50% drop in net profits
Goldwind is expecting over 50% drop in net profits in the first three months of 2012, according to its 2011 annual report.
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The poor figures were blamed on slow growth in Chinese wind farm construction, and dropping turbine prices from intensified market competition. The same reasons that led to a 74% fall in profits for 2011, Wind Power Monthly reports.
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"Although our financial performance was negatively impacted by slower market conditions, the Group nonetheless achieved success in areas that are essential to sustaining our long-term development, including R&D, quality control, order intake, services, and international growth," Mr. Wu Gang, Chairman and Chief Executive Officer of Goldwind said.
Mr. Wu concludes: “Growth of Asia’s wind power industry will be the fastest in the world, and China will continue to lead the market. During the Twelfth Five-Year Plan, wind power in China will enter a phase of stable development. After a period of rapid growth, China’s wind power industry will increasingly focus on quality and capacity utilization. Along with the healthy development of the wind power industry, Goldwind’s core competitive advantages in product quality, R&D and technological innovation, diverse wind power services and geographic expansion, will differentiate the Group and allow us to further strengthen our leading position in the global wind power industry.”